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Incentive regulation and utility benchmarking for electricity network security

Nepal, Rabindra and Jamasb, Tooraj (2015). Incentive regulation and utility benchmarking for electricity network security. Economic Analysis and Policy,48:117-127.

Document type: Journal Article
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IRMA ID 84550754xPUB29
Title Incentive regulation and utility benchmarking for electricity network security
Author Nepal, Rabindra
Jamasb, Tooraj
Journal Name Economic Analysis and Policy
Publication Date 2015
Volume Number 48
ISSN 0313-5926   (check CDU catalogue open catalogue search in new window)
Scopus ID 2-s2.0-84949239203
Start Page 117
End Page 127
Total Pages 11
Place of Publication Australia
Publisher Economic Society of Australia Inc.
HERDC Category C1 - Journal Article (DIISR)
Abstract The incentive regulation of costs related to physical and cyber security in electricity networks is an important but relatively unexplored and ambiguous issue. These costs can be part of cost efficiency benchmarking or, alternatively, dealt with separately. This paper discusses the issues and proposes options for incorporating network security costs within incentive regulation in a benchmarking framework. The relevant concerns and limitations associated with the accounting and classification of network security costs, choice of cost drivers, data adequacy and quality and the relevant benchmarking methodologies are discussed. The analysis suggests that the present regulatory treatment of network security costs using benchmarking is limited to being an informative regulatory tool rather than being deterministic. We discuss how alternative approaches outside the benchmarking framework, such as the use of stochastic cost-benefit analysis and cost-effectiveness analysis of network security investments can complement the results obtained from benchmarking.
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Created: Tue, 26 Jul 2016, 12:50:20 CST